Cerner (NASDAQ:CERN) had its target price lifted by Cantor Fitzgerald from $75.00 to $85.00 in a research report report published on Monday morning, BenzingaRatingsTable reports. The brokerage currently has an overweight rating on the stock. Cantor Fitzgerald also issued estimates for Cerner’s FY2020 earnings at $2.82 EPS.
Several other analysts also recently weighed in on the company. Citigroup started coverage on Dicks Sporting Goods in a research note on Wednesday, April 10th. They issued a neutral rating and a $40.00 price target on the stock. BidaskClub downgraded Xencor from a sell rating to a strong sell rating in a research note on Tuesday, June 11th. Robert W. Baird upped their price target on Cerner from $67.00 to $71.00 and gave the stock an outperform rating in a research note on Wednesday, April 10th. Morgan Stanley set a $165.00 price target on Caterpillar and gave the stock a buy rating in a research note on Wednesday, April 10th. Finally, Canaccord Genuity cut their price target on Foot Locker from $82.00 to $81.00 and set a buy rating on the stock in a research note on Friday, May 24th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and eleven have assigned a buy rating to the company. The stock presently has an average rating of Buy and a consensus price target of $70.00.
Shares of NASDAQ:CERN traded up $0.47 during trading on Monday, hitting $76.15. The stock had a trading volume of 1,225,486 shares, compared to its average volume of 2,504,319. Cerner has a 12 month low of $48.78 and a 12 month high of $76.20. The company has a market cap of $24.40 billion, a P/E ratio of 34.46, a PEG ratio of 2.27 and a beta of 0.89. The company has a fifty day moving average of $72.20. The company has a debt-to-equity ratio of 0.09, a current ratio of 2.58 and a quick ratio of 2.55.
The business also recently declared a special dividend, which will be paid on Friday, July 26th. Investors of record on Tuesday, June 18th will be paid a $0.18 dividend. The ex-dividend date is Monday, June 17th. Cerner’s payout ratio is currently 32.58%.
In other Cerner news, Director Linda M. Dillman sold 4,100 shares of the stock in a transaction on Thursday, May 30th. The stock was sold at an average price of $70.14, for a total transaction of $287,574.00. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director William D. Zollars sold 1,400 shares of the stock in a transaction on Wednesday, June 12th. The shares were sold at an average price of $72.11, for a total value of $100,954.00. The disclosure for this sale can be found here. Insiders sold a total of 441,468 shares of company stock worth $30,777,997 in the last 90 days. 4.71% of the stock is currently owned by company insiders.
A number of institutional investors and hedge funds have recently modified their holdings of CERN. Norges Bank purchased a new stake in Cerner during the 4th quarter valued at $155,781,000. BlackRock Inc. boosted its stake in Cerner by 8.4% during the 1st quarter. BlackRock Inc. now owns 23,927,386 shares of the company’s stock valued at $1,368,887,000 after purchasing an additional 1,848,617 shares during the last quarter. Parnassus Investments CA boosted its stake in Cerner by 15.6% during the 1st quarter. Parnassus Investments CA now owns 11,361,322 shares of the company’s stock valued at $649,981,000 after purchasing an additional 1,531,499 shares during the last quarter. MERIAN GLOBAL INVESTORS UK Ltd boosted its stake in Cerner by 25.7% during the 1st quarter. MERIAN GLOBAL INVESTORS UK Ltd now owns 3,324,449 shares of the company’s stock valued at $190,191,000 after purchasing an additional 680,664 shares during the last quarter. Finally, Millennium Management LLC boosted its stake in Cerner by 395.1% during the 4th quarter. Millennium Management LLC now owns 746,745 shares of the company’s stock valued at $39,159,000 after purchasing an additional 595,926 shares during the last quarter. Institutional investors and hedge funds own 81.64% of the company’s stock.
Cerner Company Profile
Cerner Corporation provides health care information technology solutions and tech-enabled services in the United States and internationally. The company offers Cerner Millennium architecture, a person-centric computing framework, which includes clinical, financial, and management information systems that allow providers to access an individual's electronic health record (EHR) at the point of care, and organizes and delivers information for physicians, nurses, laboratory technicians, pharmacists, front- and back-office professionals, and consumers.
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